Sources say Finance Minister Dwight Duncan will use his first budget to announce the $1.5 billion, 6.2-kilometre extension of the Toronto Transit Commission's Spadina line from Downsview station to York's campus.
"Put it this way, (the province) is having a hard time showing a deficit this (fiscal) year," said one source, noting Duncan prefers to eliminate the budget deficit in dramatic fashion next year — just in time for the Oct. 4, 2007 provincial election.
As disclosed by the Star on Saturday, Ontario has an estimated $1 billion corporate-tax windfall in the treasury. By law, that money has to be spent — or earmarked for spending — by the end of the fiscal year on March 31 or else it must go toward deficit reduction.
Tuesday, March 07, 2006
Posted by David MacLean at 2:22 PM
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